Where can I find cheap stock brokerage in Australia?

Finding a cost-effective stock broker is the first step to share trading.

In today’s technologically connected world, it's quicker, easier and cheaper than ever before for Australians to buy and sell shares in Australian and international companies via online stock brokers. However, that doesn’t mean it’s free.

You’ll still need to pay a brokerage fee whenever you place a trade to buy or sell shares, so it’s worth your while to shop around for the online share trading platform that offers the lowest brokerage fees.

But which online share trading platforms offer the cheapest brokerage? Read on to find out.

Share Trading Account Offer

IG Share Trading Offer

$0

monthly fee

$8

standard trade

Share Trading Account Offer

Special offer: Earn up to 10,000 Qantas Points on a new IG Share Trading account.
Competitive broker fees on Australian and international shares

  • Monthly fee: $0.00
  • Brokerage fee - standard trade: $8.00
  • International: Yes
  • Support - After hours: Yes
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Updated October 18th, 2019
Name Product Monthly fee Standard Brokerage Fee Margin trading - Online
$0
$8.00 or 0.1%
Yes
Special offer: Earn up to 10,000 Qantas Points when you start trading on a new IG Share Trading account. T&C applies.
Enjoy some of the lowest brokerage fees on the market when trading Australian shares, international shares, forex and CFDs, plus get access to 24-hour customer support.
$0
$6.99 or 0.1%
Yes
High quality, low-cost brokerage on global share trading.
Access up to 19,000 global stocks on 36 of the world’s major stock exchanges and enjoy some of the most competitive FX rates on the the market when you trade with Saxo Capital Markets.
$0
$9.50
No
Trade ASX-listed shares for a flat fee of $9.50, regardless of the trade size.
New customers receive free access to Community Insights with SelfWealth Premium for the first 90 days. Follow other investors and benchmark your portfolio performance.
$0
$15 for first 10 trades
Yes
Offer: For a limited time, get a custom deal based on your trading preferences when you switch to Bell Direct.
Bell Direct offers a one-second placement guarantee on market-to-limit ASX orders or your trade is free, plus enjoy extensive free research reports from top financial experts.
$0
$11 or 0.1% for first 10 trades (for trade value up to $11,000)
Yes
Access a broad range of investment products from Australia and overseas.
Take advantage of IPOs and trade shares, warrants, options and CFDs listed across the ASX, SSX and Chi-X, and other major global exchanges, including US, Canada and UK markets.

Compare up to 4 providers

What are brokerage fees?

A brokerage fee is what your stockbroker charges for executing a buy or sell transaction. In other words, every time you buy or sell shares through your online share trading account, you’ll need to pay a specific amount to the broker for the privilege of using its services. This fee is based on the size or value of the trade, and could be a flat fee or an amount calculated as a percentage of the transaction value.

Brokerage fees are one of the largest expenses associated with online share trading and can have a big impact on the affordability of your investments. If you’re a frequent trader and you’re paying a brokerage fee of $30 every time you buy or sell a parcel of shares, this can quickly add up to a substantial amount and eat away at your trading profits.

That’s why it’s essential for anyone thinking of getting started in the sharemarket to compare brokerage fees charged by online share trading platforms and shop around for the cheapest option.

How much will I need to pay for stock brokerage?

Brokerage fees are far from identical from one provider to the next, so it's important to compare fees across a number of share trading platforms before you open an account. Some providers have simple fee structures and others have quite complex arrangements, but charges usually vary based on the size or value of the trade.

Different brokerage fees often also apply to phone trades and other unique trading options, so it’s worth reading the fine print to find out how much extra it'll cost every time you make a trade.

The table below features a guide to the brokerage fees charged by some of Australia’s leading online share trading providers when buying and selling shares on the ASX. Compare those fees to find out which provider offers the cheapest stock brokerage.

BrokerOnline feePhone fee
CommSecFor trades settled into a CDIA or CommSec Margin Loan:
  • $10 (up to and including $1,000)
  • $19.95 (transaction value between $1,000 and $10,000)
  • $29.95 (transaction value between $10,000 and $25,000)
  • 0.12% (transactions over $25,000)
  • Inactivity fee: No fee on Australian shares platform
  • $59.95 (transaction value up to $10,000)
  • 0.52% (transaction value between $10,000 and $25,000)
  • 0.49% (transaction value between $25,000 and $1,000,000)
  • 0.11% (transaction value over $1,000,000)
Westpac Online Investing
  • $19.95 or 0.11% (whichever is greater)
  • Inactivity fee: $63.50 per year on the global markets account
  • $59.90 or 0.44% (whichever is greater)
IG Share Trading
  • $8 or 0.1%, whichever is greater
  • Inactivity fee: $50 per quarter
  • $50 or 0.1%, whichever is greater
nabtrade
  • $14.95 (transactions of up to $5,000)
  • $19.95 (transactions $5,000.01 up to $20,000)
  • 0.11% (transactions over $20,000)
  • Inactivity fee: No fee with 1+ trade per year
  • $59.95 or 0.55% (whichever is greater)
CMC Markets
  • Less than 11 trades per month - $11 or 0.10%, whichever is greater
  • 11-30 trades per month - $9.90 or 0.08%
  • More than 30 trades per month - $9.90 or 0.075%
  • Inactivity fee: $15 per month
  • $59.95 (trades of up to $20,000)
  • $82.50 (trades from $20,001 to $37,500)
  • 0.22% (trades over $37,500)
ANZ Share InvestingFirst trade each month:
  • $19.95 (up to $5,000)
  • $24.95 ($5,001 to $10,000)
  • $29.95 ($10,001 to $28,000)
  • 0.11% (over $28,000)

Second and subsequent trades each month:

  • $19.95 or 0.11% (whichever is greater)
  • Inactivity fee: 0.50% p.a. (minimum $10)
  • $69.95 (up to $5,000)
  • 0.40% ($15,000 to $55,000)
  • 0.35% ($55,001 to $1 million)
  • 0.13% (over $1 million)
Macquarie Online Trading
  • $19.95 or 0.12%, whichever is greater
  • Inactivity fee: No
  • $49.95 or 0.30%, whichever is greater
Selfwealth
  • Flat brokerage fee of $9.50
  • Inactivity fee: No
  • Not available
BellDirect
  • First 10 trades per month - $15 (up to $10,000) or $25 ($10,001 to $25,000) or 0.1% ($25,000+)
  • 11th to 30th trades per month - $13 or 0.08%, whichever is greater
  • 31st trade onwards per month - $10 or 0.08%, whichever is greater
  • Inactivity fee: No
  • $60 or 0.2%, whichever is greater
Capital19
  • 0.15% of trade value ($15 minimum fee)
  • Inactivity fee: No
  • 0.15% of trade value ($15 minimum fee)
HSBC Online Share Trading
  • $19.95 (trades of up to $20,000)
  • 0.11% (trades of $20,000-plus)
  • Inactivity fee: No
  • $60 or 0.2%, whichever is greater
Saxo Capital Markets
  • 0.10% or $6.99, whichever is greater (when you make up to 99 trades in a calendar month)
  • 0.05% or $6.99, whichever is greater (when you make 100 trades or more in a calendar month)
  • Inactivity fee: $100 every 6 months
  • 0.10% or $6.99, whichever is greater (when you make up to 99 trades in a calendar month)
  • 0.05% or $6.99, whichever is greater (when you make 100 trades or more in a calendar month)

Which provider offers the cheapest brokerage?

The online share trading platform offering the cheapest brokerage depends on the value of your trade, how many trades you place each month and whether or not you place phone orders. For example, place a trade of $3,000 with ANZ and the brokerage fee of $19.95 is the same as that charged by CommSec. But if you were to place a trade of $30,000 with the same two providers, ANZ would charge $33 brokerage and CommSec would charge $36.

With this in mind, it’s important to consider your trading habits when comparing brokers, as this can have a huge impact on the cost of each transaction. You’ll need to take into account not only how often you trade but also the size of the trades you place. If you like the convenience of placing trades over the phone, you may also want to look for a provider that doesn’t charge extra for phone orders.

How much will I need to pay for international brokerage fees?

The brokerage fees for shares listed on overseas exchanges are typically more than what you'd pay for ASX-listed stocks and they differ depending on the country of choice. For US-listed shares you can expect to pay around $15 - $30 dollars and this can be higher again for countries in Asia, Europe and the Middle East.

In addition to a brokerage fee, you'll typically need to pay an exchange fee to convert your Australian dollars into the overseas currency. This is usually calculated into the exchange rate and is referred to as the 'spread' – it's the difference between the base exchange rate and the rate you're actually being offered. The higher the spread, the higher your fee.

For example, CMC Markets has a spread of 0.6%, so the exchange rate you'll receive for international transactions is calculated as the best available offer at the time of execution plus a spread of 0.6%, which CMC collects. Below are the fees for US and UK shares offered by some of the main providers:

ProviderUS-listed sharesUK-listed sharesConversion fee
IG Share TradingUS$10 or 2 cents per share*£10 / 0.1%0.50%
Saxo Capital Markets Share TradingUSD $9.90 or 0.01 USD per share*£8 or 0.10%*0.50%
CommSec International Trading Account
  • USD $19.95 up to trades of USD $5,000
  • USD $29.95 up to trades of USD $10,000
  • 0.31% above trades of USD $10,0001
USD $39.95 or 0.40%0.60%
CMC Markets
  • AU$19.95 up to trades of AU$5,000
  • AU$29.95 up to trades of AU$10,000
  • 0.31% above trades of AU$10,0001
AU$59.95 or 0.59%0.60%
Stake$0Not available0.70%*

*Stake charges an FX fee when conducting initial currency exchange, not on every stock trade.

Special offers

From time to time, some online share trading providers will offer special deals to help you save on brokerage fees or possibly avoid them altogether. For example, new customers who signed up for a Westpac Online Investing account at the time of writing could access up to $50 free brokerage on each trade in the first month.

Other providers also offer brokerage fee rebates for frequent traders. For example, if an account holder makes more than a specified number of trades per month, such as 30, all the brokerage fees payable for those trades may be refunded to their trading account at the end of the month.

Such offers can help you improve your bottom line when trading shares online, so it’s worth keeping an eye out for any brokerage deals and discounts.

Are there any other fees when trading shares?

While brokerage fees are the major cost you need to consider when comparing share trading platforms, you should also be aware that other fees may apply. For example, you may need to pay a monthly fee to become a premium member of a share trading platform. This could allow you to access dynamic market data, the latest market news and analysis, or perhaps stock research and recommendations.

You should also be aware that brokerage fees vary across international stock exchanges, so the fee for buying shares on the ASX may differ from the brokerage charged when you buy shares through the New York Stock Exchange, for example.

Read the terms and conditions of an online stock broking platform to find out what those ongoing fees are and how they will affect you.

How do I compare cheap stock brokers?

As well as brokerage fees, there are several other features you should compare when choosing an online share trading platform, including:

Other fees

It’s also important to compare whether there are any ongoing fees you will need to pay to maintain your account, such as a monthly management fee or a fee to allow you to access dynamic market data. In addition, remember to check whether special options such as stop loss orders or phone trades attract extra fees.

Market access

Compare the number of global markets each platform allows you to access to buy and sell shares. In addition to the ASX, many providers also allow you to trade on stock exchanges in New York, London, Tokyo and many other countries around the world.

Market data

In the fast-paced world of share trading, accessing up-to-date market data could be critical to the success of your trades. Check whether you will be able to access static, live, dynamic or real-time data, and whether this attracts any extra fees.

Order options

Compare the options each provider offers for placing buy and sell orders. Can you place limit and market orders? Are stop loss orders available to help you minimise investment losses?

Ease of use

Try out any share trading platform you are considering using to work out how easy it is to use on a daily basis. Most providers offer free demo accounts to help you sample their services.

Access options

As well as an online platform, can you place trades over the phone or on the go using a smartphone or tablet app? Also consider whether the trading system is a web-based platform or whether it requires you to download any software.

Customer support

Make sure you can easily contact the share trading platform provider if you ever have a question about your account or a problem with a trade. Look for phone, email and live chat support, as well as online learning centres and education tools.

By considering all of the above factors, you should be able to find the best cheap stockbroker for your online share trading needs.

Want to learn more about share trading?

Check out our comprehensive guide to share trading here.

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8 Responses

  1. Default Gravatar
    DaveJuly 10, 2019

    Your info on IG about fees is slightly incorrect. You quote 0 monthly fees however you should also advise potential customers that IG now charge $50 a quarter if you make no trades.

    • Avatarfinder Customer Care
      JoshuaJuly 11, 2019Staff

      Hi Dave,

      Thanks for getting in touch with Finder.

      I’m sorry to hear about your experience with IG. Upon checking, I have confirmed that there’s a $50 subscription fee that you need to pay quarterly depending on your trading activity during the same quarter.

      However, you can easily be exempted from the charge, if you do deal at least three times using your share trading or CFD accounts during the same quarter. Alternatively, if you hold no open positions in your share trading account at the end of the quarter, then you won’t get charged as well.

      You may know more about IG by getting in touch with them or reviewing your terms and conditions.

      I hope this helps. Should you have further questions, please don’t hesitate to reach us out again.

      Have a wonderful day!

      Cheers,
      Joshua

  2. Default Gravatar
    ThereseFebruary 7, 2019

    Can I start in share market with a small budget of AU$10000 and which broker would accept me?

    • Avatarfinder Customer Care
      JoshuaFebruary 17, 2019Staff

      Hi Therese,

      Thanks for getting in touch with Finder. I hope all is well with you. :)

      Yes, you can start trading with that budget. In most cases, you only need about $500 to start share trading.

      Regarding your second question, the right broker for you is the one that meets your preference, needs, and budget. You can choose a broker based on your trading knowledge and experience, the markets you can access, the fees involved, trading sources, and customer service. You can learn more about this here. On that page, you will how to open a share trading account and other helpful tips. It’s a good guide to read for beginners.

      I hope this helps. Should you have further questions, please don’t hesitate to reach us out again.

      Have a wonderful day!

      Cheers,
      Joshua

  3. Default Gravatar
    JimiAugust 28, 2018

    As a small investor with an vestment less than (10k) ,What is the cheapest platform to buy stock and hold them for 3 years?

    Most platform overhear will have a quarterly $50 dollar inactivity fee , in addition to the Broker fee ( IG is one example )!

    • Avatarfinder Customer Care
      JoshuaAugust 29, 2018Staff

      Hi Jimi,

      Thanks for getting in touch with finder. I hope all is well with you. :)

      Generally, most share trading platforms come with inactivity fees. This encourages users to stay actively using their account or motivate them to close their account instead of taking up the platform’s resources.

      While we don’t have a page that specifically lists share trading platforms that don’t charge inactivity, you may still check our list on this page. You will find inexpensive stock trading platforms that might be able to meet your needs. Click on the “Go to site” green button of your desired provider and it should redirect you to their site. From there, you can know more about whether they charge inactivity or not.

      I hope this helps. Should you have further questions, please don’t hesitate to reach us out again.

      Have a wonderful day!

      Cheers,
      Joshua

  4. Default Gravatar
    JonskiOctober 19, 2017

    Hi, i’m a full time uni student with less than $5k to invest in stocks. After reading countless articles looking for the best or most suitable broker to trade aus/us stocks, i’m still undecided. Could you please give me some advice?

    • Default Gravatar
      LiezlOctober 20, 2017

      Hi Jonski,

      Thanks for reaching out.

      When choosing for a share trading platform, you can start by comparing the commission fees, availability of advise and research options, integration with bank accounts and access to other markets. You may refer to our guides on how to choose a good stockbroker and platforms for beginners for more helpful information.

      Cheers,
      Liezl

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